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When importing a solver deck, I see the "General"->"assign properties". This can be set to "On component" or "On element". What is the difference?
What Altair product are you using? I can direct your question to the proper channel to get an answer to your question.
I am using HyperWorks 2022
Once you export your solver deck there is no difference since components are not a solver entity but in the pre-processor it is just an organizational thing. If you assign properties on a component then all the elements in that component will have that property. So if you create new elements with that component as current they will already have the property assigned. If you assign properties on an element when you create or modify elements you will have to explicitly assign the property. The property assignment on an element always overrules that on the component. So you could have properties on components but if you wanted a subset of elements to have a different property you could assign that directly and the property assigned on the element would be maintained on export.
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